All amounts expressed in US dollars
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) Given its importance to the economies of many developing countries and the proximity of its activities to people and natural habitats, the mining sector is uniquely placed to support the United Nations' Sustainable Development Goals (SDGs), said Barrick president and chief executive Mark Bristow at the Company's fourth annual sustainability update today.
Presenting Barrick's recently published Sustainability Report for 2023 , Bristow said Barrick's approach to sustainability was based on an integrated and holistic strategy that seeks to deliver outcomes that are achievable, demonstrable and aligned with global priorities.
"With our alignment to the SDGs as a central framework to our sustainability reporting, we are better able to address the challenges of alleviating poverty, managing changes to the climate and preserving biodiversity concurrently, because these are inextricably linked," he said.
"In 2023, Barrick distributed more than $15 billion in economic value with nearly $12 billion going to host countries. It also realized its 2025 target of reducing its greenhouse gas emissions by 15% against a 2018 baseline and achieved an 84% water reuse and recycle rate," said Barrick sustainability executive Grant Beringer.
During the webinar, Bristow outlined Barrick's upcoming key sustainability projects, including the Environmental and Social Impact Assessments for the Lumwana expansion and Reko Diq project, the conclusion of a number of resettlement projects, the restart of Porgera, the roll out of Barrick's biodiversity assessment tool and the consolidation of standards between leading mining frameworks.
"Our holistic approach to sustainability is entrenched throughout our global operations, and our long-term, scientific and measured strategy is delivering great results on the ground. But last year's performance doesn't mean we can rest on our laurels. We need to do even better as we chase continuous improvement," said Bristow.
Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "committed", "vision", "strategy", "target", "roadmap", "strive", "objective", "goals", "seeks", "will", "can" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's sustainability strategy and vision; Barrick climate strategy and approach to managing climate risks; Barrick's greenhouse gas emission reduction targets and ultimate aim to achieve net zero emissions by 2050, including by implementing the projects set out in its 2023 Sustainability Report; and Barrick's environmental, health and safety, corporate social responsibility and human rights programs, policies and performance, including regarding local community relations, economic contributions and education and employment initiatives.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting of risks; non-renewal of key licences by governmental authorities; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; timing of receipt of, or failure to comply with, necessary permits and approvals; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; the impact of inflation, including global energy cost increases following the invasion of Ukraine by Russia and conflicts in the Middle East; litigation and administrative proceedings; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; risks associated with working with partners in jointly controlled assets; and employee relations including loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Piche Resources Limited (ASX:PR2) is pleased to present its corporate presentation.
PICHE RESOURCES LIMITED – URANIUM/GOLD ASX LISTING
PICHE PORTFOLIO
Targeting globally significant discoveries in Tier-1 mineral provinces
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The Placement received very strong support from a range of new and existing institutional investors, including a number of specialist gold and natural resource funds, with overall demand received for new shares strongly in excess of the $24 million Placement size.
The Placement follows:
entry into a Scheme Implementation Deed with Alto Metals Ltd (ASX:AME) (Alto), pursuant to which Brightstar proposed to acquire 100% of the shares in Alto (Scheme); and Brightstar, via a newly incorporated wholly owned SPV ‘Montague Gold Project Pty Ltd’ (MGP), agreeing to acquire 100% of the gold mineral rights in the Montague East Gold Project from Gateway Mining Limited (ASX:GML) and its wholly owned subsidiary Gateway Projects Pty Ltd (GPWA) and Gateway and GPWA’s interests held in certain mining tenure in respect of the Montague East Gold Project (Montague Acquisition).
The Scheme and Montague Acquisition will consolidate highly prospective exploration ground in the Sandstone region (Sandstone Project) which will complement Brightstar’s existing production, development and exploration asset portfolio.
Brightstar’s Managing Director, Alex Rovira, said:
“This is a significant and transformational transaction for Brightstar, with the Alto Scheme and acquisition of Gateway’s Montague East Gold Project adding significant mineral endowment into our portfolio. Importantly, it adds a third development hub to Brightstar that also delivers the critical mass of gold resources that underpin a fast-tracked exploration and development phase of work to move the Sandstone hub towards monetisation. We are extremely excited to get rigs spinning at Sandstone to aggressively grow the currently defined mineral resources.
The strong support in the capital raising from well credentialled, dedicated long-only gold and natural resources- focused institutional investors is a testament to the quality of the package of assets and development plan at Brightstar, against the backdrop of a rising AUD gold price environment.”
Figure 1- Brightstar's WA portfolio post completion of the Scheme & Montague Acquisition
Proceeds from the Placement will be applied to fund a fast-tracked drill out of the Sandstone Project and for general exploration and development activities on Brightstar’s portfolio.
The New Shares are expected to settle on Wednesday, 7 August 2024 and be issued and commence trading on the ASX on a normal basis on Thursday, 8 August 2024. New Shares issued under the Placement will rank equally with existing shares on issue.
Tranche One of the Placement to raise approximately $17.5m (before costs) will be conducted within Brightstar’s available placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A (Tranche One) and Tranche Two, to raise approximately $6.5m (before costs), will be subject to shareholder approval to be sought at an Extraordinary General Meeting (EGM) expected to be held in mid-September 2024 (Tranche Two).
In Tranche One, a total of 1,166,666,667 New Shares will be issued. 700,000,000 of these New Shares will be issued pursuant the Company’s placement capacity under ASX Listing Rule 7.1 and a total of 466,666,667 New Shares will be issued pursuant the Company’s placement capacity under ASX Listing Rule 7.1A.
Under Tranche Two, which is conditional on the receipt of prior shareholder approval pursuant to ASX Listing Rule 7.1, the remaining 433,333,334 New Shares are proposed to be issued.
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This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
HIGHLIGHTS:
The results for these two (2) holes again demonstrate wide infill of the broader Ricciardo deposit at depth, further validating the outstanding Mineral Resource Estimate (MRE) growth potential that exists at Ricciardo and along the broader ‘Golden Corridor’ trend (refer Figure 2).
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“The outcomes of these two diamond tails are significant, given that they represented substantial depth step-outs under the shallow Ardmore pit. A 77m wide mineralised zone (downhole) with a central high-grade shoot (4.51 g/t), 180m below the MRE is a great result. We don’t fully understand the structural geometry here yet, but we are delighted that the deeper part of hole 49 validates the drill results from a previous explorer – confirming the deposit extends to about 460m vertical depth and retains some good grade (3.19 g/t). Excellent progress.
We continue to drill ahead at Ricciardo as part of the current diamond program, with follow-up growth drilling activities in planning for the remainder of H2 2024.”
Figure 1: The Golden Range and Fields Find Projects. Mines and projects within trucking distance of the Warriedar tenure are shown.
Ricciardo deposit
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. Ricciardo possesses a current MRE of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1 The oxide material at Ricciardo has been mined by previous operators.
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This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.